Have you had your refund yet? Mine has not arrived.
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I guess shareholders are lucky that the discrepancy between the allotment price and the closing share price on the day of allotment is not automatically a taxable gain…
Up to 5 business days from allotment according to the allotment notice sent out to all holders.
Got mine midnight Thursday. Has already burnt a hole in my pocket.
Had to enter the new shares into my Jarden account.
https://www.nzx.com/announcements/414461
Seems exciting, we often say that we have to trust our companies management to make the right decisions.
So far my trust in IFT is growing….slowly.
Investor since June ‘20.
A NZ company buying Console Connect (CC) is big news.
Infratil must have done their due diligence for this opportunity.
An example.
United States/European company HQ wants to expand their operation into Australia/NZ. They need rack space in both AUS/NZ data centre. Rather than with Amazon or Microsoft, they can go with CC/Infratil. Infratil will supply them rack space in their Australia data centre and rack space in their New Zealand data centre. Infratil will then use CC and provide a network connectivity from AUS/NZ, back to United States/Europe.
Smart move in my opinion. Fund managers will love it.
Lots of statutory consents needed in various jurisdictions. No settlement anticipated until third quarter next year and that will assume no issues arise in that process.
But otherwise seems a very positive move. IFT/Morrisons are good at due diligence and leveraging these acquisitions over time.
Imagine CC like an octopus and it has tentacles that touch to every continent in the world for network connectivity. Now that Infratil has bought this cctopus, they will have two tentacles attached to AUS and NZ.
These two tentacles will most likely be connected to CDC AUS and CDC NZ respectively.
What does that mean? Here are some possibilities
a. CDC data centres will be in demand
b. Infratil might look at one of the tentacles and decide to build another data centre elsewhere in the world.
Usually data centre owners, do not own infrastructure networks. I could be wrong, Infratil, as far as I know, is the first one.